While the application of false but popular economic theories continues to wreak havoc on civilization, it is comforting at least to know that there are a lot of people out there who have better ideas than the ideas that have led directly to the need for the current depression (a depression, by the way, which is essential to correct all the damage that was already done during the boom).
I'm trying to do my bit to learn and eventually make a contribution. Just for fun, I thought a short quantitative performance review of my year might be good for New Years' Eve, especially since so much of my work is highly qualitative in nature. So I put together some numbers.
Review of 2008 profession-related achievements by the numbers
313,110
Number of English words of investment research reports translated out of Japanese (this is my "day job," read: the one that generates a current cash flow). This equates to roughly 800 pages of text.
48,226
Number of words of notes, ideas, and observations added to my New Ideas file for future project development.
23
Number of non-fiction books read
14
Number of blog posts published
11
Number of fiction books read (on paper)
9
Number of fiction books listened to (thanks Audible)
[43: Book total]
One of the problems today is people not reading enough books. Even reading a lot of Web pages and blogs on a regular basis, which I also do, cannot equal the systematic development of knowledge and understanding available in books. Blogs are also good for connecting ideas with current events and for discussing new ideas, but systematic understanding is essential, and it is this that is most lacking today. It takes time to read a book. It is an investment. It pays off. Especially if you choose the titles wisely.
2009 Goal
To greatly increase the number of non-fiction books read!
Wednesday, December 31, 2008
Monday, December 15, 2008
What can one person do?
To start with, one person is the only one who can do anything, ever. So get over it.
This one person is getting toward the end of reading Money, Bank Credit, and Economic Cycles (pdf) by Huerta de Soto.
This book cannot be recommended too highly. For what it's worth, reading this enables one to understand the exact manner in which the financial elite, the state, and their pet money-crank academic economists are entirely responsible for manufacturing economic crises, including the current particularly disastrous one.
They should know better because the economic theories driving current policy in the banking industry have been refuted either decades or centuries ago, depending on the particular issue. It is special interests which have the big stake in maintaining popular falsehoods for their own benefit.
Understanding is the first step in change. If all you can do is understand, do start by doing that please. It's not that hard anymore. Just turn off that non-sense machine, the media, and start reading a decent book.
Admittedly, an easier introduction to start with would be The Mystery of Banking (pdf), but it is also really worth it to take the whole 812-page ride with the Man from Madrid if you can manage it. Another brand new book in this field is The Ethics of Money Production (pdf). Although I have not had the opportunity to get too far into it yet, I'm venturing a guess that it will be going onto my recommended list after I do.
This one person is getting toward the end of reading Money, Bank Credit, and Economic Cycles (pdf) by Huerta de Soto.
This book cannot be recommended too highly. For what it's worth, reading this enables one to understand the exact manner in which the financial elite, the state, and their pet money-crank academic economists are entirely responsible for manufacturing economic crises, including the current particularly disastrous one.
They should know better because the economic theories driving current policy in the banking industry have been refuted either decades or centuries ago, depending on the particular issue. It is special interests which have the big stake in maintaining popular falsehoods for their own benefit.
Understanding is the first step in change. If all you can do is understand, do start by doing that please. It's not that hard anymore. Just turn off that non-sense machine, the media, and start reading a decent book.
Admittedly, an easier introduction to start with would be The Mystery of Banking (pdf), but it is also really worth it to take the whole 812-page ride with the Man from Madrid if you can manage it. Another brand new book in this field is The Ethics of Money Production (pdf). Although I have not had the opportunity to get too far into it yet, I'm venturing a guess that it will be going onto my recommended list after I do.
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